SOURCE: Host Analytics

Host Analytics

October 22, 2009 07:00 ET

Host Analytics Completes Impressive Third Quarter as Finance Professionals Prepare for Economic Recovery

New Customers Cite Need for Solutions That Help Determine How Best to Plan for Upturn

REDWOOD CITY, CA--(Marketwire - October 22, 2009) - Host Analytics, the leading provider of cloud-based corporate performance management (CPM) solutions, today announced the completion of another successful quarter. For its fiscal year third quarter ended September 30, Host Analytics increased top-line revenue 160% over the previous quarter and displaced its primary competitor -- Microsoft Excel -- at a number of large and mid-market firms. Host Analytics' strong Q3 comes amid economists' analysis that the global economy is showing signs of recovery and even growth in 2010. Finance professionals are responding by upgrading their budgeting and financial planning tools.

Host Analytics' fiscal third quarter continued a pattern of growth for the cloud CPM leader. New users span a wide variety of industries including distribution, consumer packaged goods, aviation, energy, medical, pharmaceutical and high technology. Key additions for Q3 include Axioma, Bama, Icicle Seafood, Jim 'N Nicks and Mission Hospital. Just in time for budgeting season, many of these companies already are implemented and up-and-running with Host Analytics.

"Because our business can be unpredictable, we needed a CPM solution that was equally dynamic," said Brenda Morris, CFO at Icicle Seafoods. "We looked at on-premise systems but implementation speed was important so these solutions were not a fit. We considered other cloud CPM offerings but these were merely point solutions for budgeting and forecasting. We chose Host Analytics because it's a comprehensive CPM suite that supports dashboarding, what-if scenarios, KPIs, strategic planning, financial consolidation and real-time analysis in addition to budgeting and forecasting -- and that's exactly what a business like ours needs."

Host Analytics fiscal third quarter was notable for several other reasons:

--  Keri Brooke was appointed vice president of product marketing. Brooke
    joins Host Analytics having spent the majority of the last 15 years working
    in the corporate performance management space for Hyperion and Oracle in
    various roles including implementation consulting, product marketing and
    product management.
    
--  Host Analytics was the recipient of a Best of SaaS Showplace (BoSS)
    Award from market research firm THINKstrategies. The BoSS Award program
    promotes cloud computing vendors whose solutions have been shown to
    increase sales, lower costs, improve customer satisfaction, speed
    operations and grow profitability.
    
--  The Host Analytics channel business continues to flourish. Four
    significant new partners were signed in Q3: Microsoft, NetSuite, Oracle and
    Right90. In particular, the partnership with Microsoft is significant
    because, as a Gold level partner, Host Analytics will have faster access to
    the latest Microsoft technology and technical resources, enabling Host
    Analytics to more quickly and easily rollout functionality that help
    customers achieve their business goals.
    

"Finance professionals are frustrated with the traditional budgeting and planning tools," said Jon Kondo, CEO at Host Analytics. "Either they're using Excel, which is woefully inadequate for large and mid-market firms, or they've chosen an on-premise product with its high cost and painful upgrades. By switching to Host Analytics, finance executives get all the tools they need to help line-of-business managers improve profitability at the departmental and corporate levels. Our goals continue to be building the biggest and best cloud CPM company around, and helping our clients improve profits through more thoughtful budgeting and financial planning."

About Host Analytics

Host Analytics is the leading provider of cloud corporate and financial performance management solutions. Host Analytic's solutions help financial, line of business and departmental executives improve their budgeting, forecasting, financial consolidations, dashboarding, scorecarding, reporting and analysis. Host Analytics delivers its suite of corporate performance management solutions via the Software as a Service (SaaS) model. Host Analytics, a pioneer in providing comprehensive and easy to use CPM solutions, was founded in 2000 and expanded its SaaS offering in 2005 to include a complete suite of CPM solutions.

Host Analytics helps organizations streamline the performance management process, align the planning process with business strategy and effectively measure performance and manage change. As a SaaS delivered solution, Host Analytics customers realize fast time to value through quick implementation of solutions, the highest levels of user adoption, effective empowerment of business users and a continuous flow of Host Analytics provided solution innovations and improvements.

Host Analytics serves the enterprise, large and midsized company and public sector markets including industry leading companies like JP Morgan Chase, Procter & Gamble, Otis Spunkmeyer, Pitney Bowes, and Red Roof Inn. Host Analytics was included in JMP Securities' prestigious "Hot 100: The Best Privately Held Software Companies." For additional information, visit http://www.hostanalytics.com/ or call (314) 588-2121.

© 2009 Host Analytics Incorporated. All rights reserved. All trademarks are the property of their respective owners.

Contact Information

  • Media Contact:
    Kevin Wolf
    Host Analytics
    650-327-1641
    Email Contact